ARBUS302 Lecture 1: Lecture 1 and 2. Intro to Marketing.
10 Apr 2015
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Document Summary
Distinguish between marketing mix elements and environmental forces: the marketing mix includes the 4 ps of product, price, promotion, and place (distribution, environmental forces: external and uncontrollable, social: changing demographics, ethnic diversity, aging population, economic: inflation rate, unemployment rate, gdp, recessions, technological: blackberry vs. apple, video streaming, competitive: competitors, understand what new products are coming, regulatory: know regulations, controllable factors, relationships with other companies and society (suppliers, partnerships, competitors, shareholders) Two ethical theory types: theory 1: teleological (utilitarian, consequences matter, the greater good, perform the action that will result in the greatest possible balance of good over evil, theory 2: deontological (rights and virtues, the golden rule, obligations and duties, focus on human rights issues of individuals. Theory 1: strengths, follows ordinary reasoning, provides precise and objective measure for moral decision making, weaknesses, people reason differently, roles, obligations, rights and justice are prominent in business.
